Obtaining a UK Business bank account
 

Hiya,

i'm new here (hello!) and in the process of starting a business with an adult theme. as well as some affiliate stuff their is likely to be revenue earned from girls who cam, chat . content such as photos and videos will also be sold but at this point in time not via my site but via 3rd party clip sites. no involvement with escort business etc.

i have been doing a bit of research into obtaining a business bank account for the limited company i will set up and want to find out how i can be open and honest with the bank but at the same time not have them march me out the door for wanting to start an adult themes business.

all tips welcome on how to proceed so i can get a bank acct in place in next month or so.

Mike

Get a mainstream domain, set it up with a basic template, if anyone asks where the money comes from tell them about that

I know the banks cant really be held to account when it comes ot conducting business so what you're saying is blatantly lie to them? What are risks that they'll uncover ruse? I had thought of saying that the business was "performance art and events" lol

ummmmmmmmmmmmmm

Is it solely a business bank account you require or a merchant account?

If it's just a business account apply online, just state your industry is marketing, you don't really need to be any more specific unless you want a business manager for face-to-face advice then get your story straight as the application may be done in person, otherwise just state online account in your application.

There may be a few checks if you require any form of credit facilities with the account, but apart from that bank wont be too concerned as long as you're not involved in any illegal activity or money laundering.

A merchant account on the other hand will require more information, they'll set your fees on the type of business you conduct so you should be upfront.

If you have any difficulties due to poor credit in the past you could try registering a company with company house, after a few failed business bank account applications as a sole proprietor I registered a company and was approved with the bank first time.

Hope this helps.

I got a business account with natwest about 6 years ago. They asked me to come and meet the business manager, which I did. The meeting revolved more around them telling me what they could do for me, telling me about online banking etc. I told them my business was internet marketing, they never asked who my customers would be, so I didn't have to mention the adult stuff. I would have had no problem doing so though. Its not illegal. If it bothers you, as someone mentioned, throw up a couple of mainstream sites to show them.

[email protected]

Know their shit and can get you squared away

I'm with the natwest too and also had to meet the local business manager, but only as I had accidentally selected to have a face-to-face relationship otherwise the application would have been processed without the need of a meeting, they wanted to know about my business, customers and finances but nothing too intrusive, half/half about my business and their services.

If you do decide to go with Natwest just be aware that all those business customers who do not have a face-to-face business manager will be transferred to Santander soon.

thanks everyone, you've certainly given me some useful tips. it's just a bank account, no merchant facilities at present, and no credit required either.

Internet Marketing it is then :-)

Just wanted to say, as i'm new here, what a great resource this is and I look forward to more exchanges in the forum in the future :-)

Yeah I'm "internet marketing" to my bank too... And I do appreciate it when sponsors keep their checks clean with no indication of adult printed on the check.

thats a good point. reminded me of a scene in the film lock stock and two smoking barrels. cant post the url unfortunately as ive not made enough posts yet but have a look on youtube for

Lock, Stock and Two Smoking Barrels (Arse-intruding Dildos)

confusing , mate.

"Cos' who wants their bank to know they tickle arse when they're not busy cashing cheques?"

Don't mention adult when you open a bank account. They don't need to know.

If you are a paysite then you sell digital media.

If you are an affiliate then you are in internet marketing.

And other such nonsense.